Wednesday, March 31, 2010

Palin's Alaska Has the WORST Debt to GDP Ratio in America

Well, my, my, my. Looks like Sarah "The Quitter" Palin had a reason for bailing on Alaska: the state's debt to GDP ratio is the HIGHEST in America, despite the fact that Alaska gets about $1.78 in Federal benefits for $1 it sends to the feds in taxes. Here is a graph showing the top 25 states with bad debt to GDP ratios (click to enlarge):

(You'll notice evil blue state California is 23rd on the list. Of course, California is a net CONTRIBUTOR of federal taxes, unlike Alaska.)

Palin left the town of Wasilla mired in $20 million in debts (for "improvements", she argued) even though she secured $27 million in earmarks as well. (That figure might possibly constitute the highest level of federal pork per capita of any town in America.) She was the "Earmark Queen" as governor of Alaska as well. Bear in mind that Alaska's difficulties arose while the state was pulling in record oil revenues and collecting more money than ever from the NEW TAXES THAT PALIN APPROVED. (See here.) And the state is STILL BROKE.

Palin says she quit for the good of Alaska. Looking at these numbers, I'd have to say she was right.